KP Management LLC Has $2.05 Million Stock Holdings in Parsons Co. (NYSE:PSN)

KP Management LLC increased its stake in shares of Parsons Co. (NYSE:PSN) by 25.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,000 shares of the company’s stock after buying an additional 5,000 shares during the period. KP Management LLC’s holdings in Parsons were worth $2,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons during the second quarter worth approximately $44,000. TFO Wealth Partners LLC boosted its stake in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Parsons in the 1st quarter valued at $62,000. Blue Trust Inc. increased its position in Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Parsons during the fourth quarter worth $91,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of recent research reports. Robert W. Baird raised their price target on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Truist Financial reiterated a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Benchmark upped their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, KeyCorp increased their target price on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $94.67.

Parsons Price Performance

Parsons stock opened at $104.82 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $104.87. The stock has a market capitalization of $15.38 billion, a P/E ratio of 582.33, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The stock has a fifty day moving average of $93.62 and a 200-day moving average of $84.10.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. On average, sell-side analysts expect that Parsons Co. will post 2.88 earnings per share for the current fiscal year.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.